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Basic Business Empowerment

Congratulations Fall 2009 Graduates!

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Spring 2010

Basic Business Development Course 
36 hours / 10 weeks

(Course fee: $99)

9am - 4pm Saturdays,
Feb. 20 & 27
followed by
6pm – 9pm, Wednesdays,
Mar. 3 through Apr. 28
(No Class Wed., Mar. 17 – Spring Break)

Orientation & Registration 

6pm – 7:30pm, Wed., Feb. 10

Location (orientation & all classes):

County Health & Community Services Bldg.
2625 N. King St., Flagstaff 
(1 block East of 4^th St., North of 7^th Ave.)

For more info call: Amy Grenier (928-679-7458)

It has been estimated that over 70% of Americans have considered at one time or another starting their own business, but most have not because they do not know how. In the U.S. entrepreneurs make up only about 10% of the population, but two-thirds had a parent who owned a business. Rather than inheriting this ability, they likely caught it informally over the dinner table. If this is true, others should also be able to learn these same skills, if given the opportunity.

Small businesses are the primary source of wealth and job creation in America. For this reason, Coconino County Community Services Department (CCCSD), a Community Action Agency, launched BASIC BUSINESS EMPOWERMENT during EntrepreneurshipWeek USA, spring 2007. This Assets for Independence program offers First Step FastTrac business development training and Individual Development Account match savings opportunities. Applicants are those passionate to do business, but who lack resources and knowledge.

(Click here to view Basic Business Empowerment Participants’ Businesses)

First Step FastTrac^®  Business Development Course 

CCCSD is certified to offer First Step FastTrac^®. This 36-hour / 10-week small business development training, designed by the Ewing Marion Kauffman Foundation and First Step Fund, is assisting potential entrepreneurs nationwide to evaluate the feasibility of their business ideas. Class registration fee is $99. To learn more, or to apply, come to our next orientation.

(CLICK HERE for an outline of FIRST STEP FASTTRAC TOPICS)

(CLICK HERE for a FIRST STEP FASTTRAC APPLICATION)

Individual Development Account Match Savings Opportunity

Those eligible can open an Individual Development Account and triple what they save toward the start-up or expansion of a home-based or other small business.  Depending on funding availability, each dollar saved for a business (up to $2,000) will be matched by two grant dollars.   Federal grant funding is being leveraged by an equal amount of local grant funding.  Eighty-five percent of this money will be used to match participant savings.

IDA match savings participant eligibility requirements, include:  

1. Registration fee: $25
2. Photo identification & a social security card (or ITIN, as applicable)
3. Copy of last federal tax return or three most recent pay stubs
4. Good credit per current credit report
5. Earned income (SSDI, SSI, unemployment are not considered income)
6. Household net worth less than $10,000 (residence and one vehicle excluded)
7. Annual household adjusted gross income may not exceed:

                   $20,800     (household of 1)

                  $28,000     (household of 2)

                  $35,200     (household of 3)

                  $42,400     (household of 4)

                  $49,600     (household of 5)

       For each additional family member add $7,200.

NOTE: Those eligible for the Earned Income Tax Credit (EITC) or TANF qualify for this program!

Once accepted, IDA participants must have a viable business concept, be able to attend financial literacy and basic business classes, and commit to making monthly deposits from their wage income for a minimum of six months.  Participants may also deposit part or all of their tax return, including their Earned Income Tax Credit (EITC).  The EITC available to a low wage earning single parent with two or more young children may be as much as $4,824, even if no tax is withheld from your paychecks in 2008.

The IRS says annually over $7 million in EITC is unclaimed in Coconino County. By depositing a tax return, an IDA participant can more quickly reach his or her saving goal. To help process EITC claims, CCCSD is part of the Economic Empowerment Coalition which offers FREE Volunteer Income Tax Assistance.  In 2007, volunteers prepared income tax returns free of charge for over 870 tax payers, yielding close to $1 Million in refunds for lower-income tax payers.

(CLICK HERE for an APPLICATION to participate in IDA Match Savings)

For more information and an application, contact: